MODERN START-UPS
easy to overlook in the excitement of
“setting up”. Massive mobile phone
bills, intensive use of the owners
motor car will incur costs. These
are delayed but they are real. Credit
cards need intense management.
Delayed payment may free up cash
but...they are a real cost.
Tax will need to be paid. No matter
what the accountant charges, it will
be a bargain.
an active entrepreneur, your name
will appear on many more email lists.
Follow them up for more contacts to
offer your services or as sources of
business information.
FIND A MENTOR
You may well be surprised how often
experienced entrepreneurs will offer
free advise based on what would
appear to be amusing war stories.
These experiences are worth hearing
as they cost some one time and
money. Once having found a friendly
business veteran suggest that you
may wish to contact them for more
advice at a later time. Remember it is
the mentor that should be teaching
you. Be bold and ask that dumb
question that has been on your mind.
Then sit back and do what can be
very hard for a driven and newly
launched entrepreneur. Become a
good listener.
REVIEW THE BUSINESS PLAN
Read it with the eyes of someone
who is now a little more experienced
and maybe wiser. The business plan
should be a dynamic document.
It was your creation written with
commitment and passion, but it
was not written by a prophet. It
may be plain wrong. Circumstances
may have changed. You are now in
charge of your business and destiny.
Make the changes needed and stay
in charge. Maybe share the revised
business plan with someone new.
A potential mentor/advisor for
instance.
FOLLOW THE MONEY
Most startups have a few customers.
Evaluate the financial value of these
customers, not from a position of
gratitude for their bravery in having
trusted a mere startup. Are they the
customers you really need and can
make money from? More bravery is
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